The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance or the get-rich-quick adventurer. They will die poor. – Jesse Livermore, How to Trade in Stocks The trouble with capitalism’s guardians is that they …
“As the nation’s central bank, the Federal Reserve derives its authority from the Congress of the United States. It is considered an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding …
The Keynesian disaster recovery plan has been to lower rates, force people to take more risk in search of yield, and entice others to borrow and spend and, magically, more jobs will be created. If people won’t buy stocks, central banks will. Back in 2011, Ben Bernanke, when asked if QE2 was driving up stock …
The latest unemployment data reveal the hope and tragedy of the American economic plight. Cheers went up for a modest increase in hiring, one that: barely keeps up with population; features mostly temp workers; leaves out prime-age males and all young workers; and keeps labor participation rate at a low level from 1979. This is …